Gateway Investment Advisers LLC Acquires 8,857 Shares of Old Dominion Freight Line, Inc. $ODFL

Key Points

• Gateway Investment Advisers LLC increased its stake in Old Dominion Freight Line by 10.7%, acquiring 8,857 shares to hold 91,552 shares valued at about $14.36 million per its latest SEC filing.
• Insiders have been net sellers recently — 102,241 shares sold (≈$19.87M) over the last 90 days, including Director Greg G. Gantt's sale of 22,107 shares; insiders now own 10.00% while institutions own 77.82%.
• ODFL beat quarterly EPS estimates ($1.14 vs. $1.05) despite a 2.9% year‑over‑year revenue decline; the stock carries a market cap of $41.79B, a PE of 41.97, and a consensus analyst rating of "Hold" with an average target of $206.46.

Gateway Investment Advisers LLC lifted its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Free Report) by 10.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 91,552 shares of the transportation company's stock after acquiring an additional 8,857 shares during the quarter. Gateway Investment Advisers LLC's holdings in Old Dominion Freight Line were worth $14,355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Old Dominion Freight Line by 175.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company's stock worth $27,000 after acquiring an additional 123 shares during the period. Westside Investment Management Inc. boosted its stake in shares of Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company's stock worth $27,000 after acquiring an additional 98 shares during the period. Torren Management LLC bought a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $41,000. Raiffeisen Bank International AG bought a new position in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $37,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $50,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $200.62 on Thursday. The stock has a market capitalization of $41.79 billion, a PE ratio of 41.97, a P/E/G ratio of 4.01 and a beta of 1.17. The business has a fifty day moving average price of $201.03 and a two-hundred day moving average price of $174.26. Old Dominion Freight Line, Inc. has a fifty-two week low of $126.01 and a fifty-two week high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.09. The firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The company's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 EPS. On average, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.32 EPS for the current year.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction on Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the transaction, the director directly owned 88,551 shares of the company's stock, valued at $16,959,287.52. The trade was a 19.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Earl E. Congdon sold 25,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total value of $4,903,250.00. Following the completion of the transaction, the insider directly owned 2,162,113 shares of the company's stock, valued at $424,055,222.69. This represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 102,241 shares of company stock valued at $19,874,065 over the last 90 days. 10.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on ODFL shares. Raymond James Financial reissued an "outperform" rating and set a $224.00 price target on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Benchmark reissued a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, March 4th. Citigroup reissued a "neutral" rating and set a $225.00 price target (up from $218.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Truist Financial set a $225.00 price target on Old Dominion Freight Line in a report on Thursday, February 5th. Finally, Zacks Research raised Old Dominion Freight Line from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 10th. Eight research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $206.46.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company's core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.

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